Continental Airlines Stock Plummets

 
Old Sep 17, 01, 9:41 am
  #1  
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Continental Airlines Stock Plummets

Continental Airlines Stock Plummets

Shares of Continental Airlines Corp. on Monday fell 52 percent in opening on the New York Stock Exchange, on the first day the stock has traded since the attacks in New York and Washington.

Shares of Houston, Texas-based Continental opened off $20.64 or 52 percent, to $19 on the NYSE. The stock closed at $39.64 on September 10.

Continental said earlier on Monday it will miss $70 million in payments on enhanced equipment trust certificate aircraft financings, following last Tuesday's attacks.

The Houston-based company said it has a five to 10 business day grace period starting Monday to make the payments, before it goes into default under its financing agreements.

http://biz.yahoo.com/rb/010917/busin...ocks_dc_1.html
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Old Sep 17, 01, 5:02 pm
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Continental Airlines (NYSE:CAL - news) said on Monday that it had postponed the $320 million initial public offering of its ExpressJet unit as U.S. airlines struggled to recover after last week's attacks on the World Trade Center and the Pentagon by hijacked commercial jets.

A spokesman for Continental said the nation's fifth-largest carrier had postponed the offering and was still evaluating when to spin off the wholly owned subsidiary.

http://biz.yahoo.com/rf/010917/n17285438_2.html
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